Inflating the bubble?
How much federal or state assistance should troubled homeowners receive? Discuss round three of this week's Dust-Up.
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If you can't pay your mortgage, you should not have bought a house. Not everyone should own a home. Irresponsible people are the reason we are now in a downturn. They put pressure on home prices to rise by purchasing homes they could not afford. The government should not be getting involved in this. Let the market take its course. Once these people sell their home or get foreclosed on, home prices will come down to a normal level. They are not "loosing their home". They make it seem like they will be huddled outside in the cold around a burning trashcan. They can rent just like the rest of us.
Stop bailing out irresponsible people @ 7:26 PM PST, Feb 2, 2008
Steve, I don't enjoy economic articles that talk about fair and unfair... those are concepts that are impossible to try to reach a consensus on. You should concentrate on what works and what doesn't work. If a system is "fair" but allows for a Depression that puts 1 in 3 people out of work, would you be perfectly all right with that? If jobs aren't available, it doesn't matter if you have a work force with varying skills. If the jobs are available, then we need the government to help retrain the workforce for the new occupations. Either way, government intervention is helpful.
Micah D. Bobo, small bsuiness owner @ 12:53 PM PST, Jan 31, 2008
Any loan over 600.000 means the people are "rich" it is our duty to protect these wonderfully smart people and insure they remain in the upper classes. The chance they should fall towards "renter" status in unthinkable and contrary to the American way. God save the Rich.
Whiteyward @ 9:06 AM PST, Jan 30, 2008
My wife and I both work. 180K a year is what we're "paid". After the Feds and State, SS, medicare, county get their peice of the action, we are "paid" 90K. 4 kids = $25,000 in childcare- we make too much and get to write off $1000. Health ins $12,000/yr. Mortgage $24,000 /yr. cars so we can drive to work $5,000/yr Insurance $2,000/yr, gas $4,000/yr. College saving (we are "paid" so much, our kids won't qualify for financial aid), IRA - , utilities, food, clothes, house maint, on and on...$25K Net pay: Negative $4,000 a year. Yeah, we shouldn't get the rebate... We're wealthy.
tom @ 8:30 AM PST, Jan 30, 2008
IMO, homeowners should receive little to no assistance, if you couldn't afford it you shouldn't have moved in. Why should I have to pay for your mortgage? As for the stimulus package, nothing will help until we start addressing the structural problems of the economy. These will begin to be fixed when we start investing in our country, for example infrastructure and renewable energy.
Kroneborge @ 7:28 AM PST, Jan 30, 2008